Bessemer Group Inc. bought a new stake in EPAM Systems, Inc. (NYSE:EPAM) during the second quarter, Holdings Channel reports. The institutional investor bought 23,200 shares of the information technology services provider’s stock, valued at approximately $1,951,000.
Other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in EPAM Systems during the fourth quarter valued at approximately $2,855,000. Teachers Advisors LLC increased its position in EPAM Systems by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 300,728 shares of the information technology services provider’s stock valued at $19,340,000 after buying an additional 10,957 shares during the period. Creative Planning increased its position in EPAM Systems by 1,101.2% in the first quarter. Creative Planning now owns 2,018 shares of the information technology services provider’s stock valued at $152,000 after buying an additional 1,850 shares during the period. Cim LLC bought a new position in EPAM Systems during the first quarter valued at approximately $518,000. Finally, Legato Capital Management LLC increased its position in EPAM Systems by 7,452.0% in the first quarter. Legato Capital Management LLC now owns 60,794 shares of the information technology services provider’s stock valued at $805,000 after buying an additional 59,989 shares during the period. 97.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EPAM Systems, Inc. (NYSE EPAM) opened at 81.15 on Friday. EPAM Systems, Inc. has a 1-year low of $54.53 and a 1-year high of $87.93. The company’s 50-day moving average is $84.21 and its 200-day moving average is $77.72. The stock has a market cap of $4.26 billion, a P/E ratio of 39.18 and a beta of 0.99.
EPAM Systems (NYSE:EPAM) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.18. The company had revenue of $348.98 million for the quarter, compared to analyst estimates of $342 million. EPAM Systems had a return on equity of 15.12% and a net margin of 8.71%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. Equities analysts expect that EPAM Systems, Inc. will post $3.35 EPS for the current fiscal year.
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EPAM has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of EPAM Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $78.00 price target on shares of EPAM Systems in a research note on Thursday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price target (up previously from $82.00) on shares of EPAM Systems in a research note on Friday, May 5th. Barclays PLC reaffirmed an “overweight” rating and set a $84.00 price target (up previously from $80.00) on shares of EPAM Systems in a research note on Friday, May 5th. Finally, Wedbush upped their price target on shares of EPAM Systems from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, May 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.11.
In other EPAM Systems news, SVP Ginger Mosier sold 26,055 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $85.65, for a total value of $2,231,610.75. Following the transaction, the senior vice president now owns 12,733 shares in the company, valued at approximately $1,090,581.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Balazs Fejes sold 34,234 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $84.76, for a total value of $2,901,673.84. Following the completion of the transaction, the senior vice president now owns 48,467 shares in the company, valued at approximately $4,108,062.92. The disclosure for this sale can be found here. Company insiders own 6.17% of the company’s stock.
About EPAM Systems
EPAM Systems, Inc is a g provider of software product development and digital platform engineering services to clients located primarily in North America, Europe, Asia and Australia. The Company’s service offerings cover the full software product development lifecycle from digital strategy and customer experience design to enterprise application platforms implementation and program management services and from complex software development services to maintenance, support, custom application development, application testing, and infrastructure management.
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